Crocs doesn’t think it can stay on its feet

Crocs Inc., which makes those colorful rubber “shoes” (and yes, I do mean to put that in quotes), is now struggling to stay in business, according to this story by the Wall Street Journal.

The company posted a $184 million loss last year.

According to the story:

Already battered by falling sales and a plummeting share price, Crocs faces an April 2 deadline to pay off $22.4 million it owes on its revolving credit line. On Thursday, the company said it is seeking an extension and is in discussions with lenders to secure a new line of credit.

While I hate to see companies go under — especially one that is based near my hometown (Crocs is based in Niwot, Colorado, which is the next town over from where my parents live) — I’m glad that people are finally getting over the Crocs phase.

Let pretty, non-rubber shoes triumph!

Do you dislike Crocs like me? Or do you have 20 pairs of the shoes in your closet, in all different colors? Sound off by posting a comment below.